Citi ups Nvidia target, opens ‘positive catalyst watch”

Citi raised the firm’s price target on Nvidia (NVDA) to $175 from $170 and keeps a Buy rating on the shares following the Q3 report. The analyst also opened a “90-day positive catalyst watch” on the shares. Nvidia reported “beat and raise” results and management hit on three key investor topics going into the call – Blackwell ramp is in “full steam,” gross margin will trough in the April quarter and artificial intelligence is scaling, the analyst tells investors in a research note. Citi opened a positive catalyst watch into January’s CES where it expects Blackwell sales expectations to move higher and management to talk about the inference led enterprise and robotics industrial demand inflection.